During a regular press conference held in Seodaemun-gu, Seoul on May 13th, a representative from the National Police Agency announced, “We have received a complaint against CEO Min on April 25th and are currently working with the complainant’s representative to schedule further actions.”
Previously, HYBE filed a complaint against CEO Min for breaching their duty. According to HYBE, CEO Min allegedly created a scheme to gain control of ADOR’s management rights. They state that they possess concrete statements and evidence to substantiate this claim.
In light of this, CEO Min conducted a press conference on April 25th to refute all accusations, and the ongoing conflict between the two parties persists.
The extraordinary shareholders’ meeting, which has been officially announced during ADOR’s recent board meeting, is set to take place on May 31st. The main topic of discussion at this meeting will be the motion to dismiss CEO Min. Given that HYBE holds 80% of ADOR’s shares, it is highly probable that the motion will be approved during the meeting.
On May 7th, CEO Min submitted an application to the Seoul Central District Court for a preliminary injunction to prevent the exercise of voting rights against HYBE. A hearing has been set for May 17th and the decision on CEO Min’s dismissal will hinge on the court’s ruling of either “rejection or acceptance”.
The following paragraph is from daum.
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